“Signs are highly positive that the Islamic Republic of Iran can become one of the world’s top emerging markets for solar energy. Excellent solar irradiation combined with a continuously growing electricity demand and relatively high generation costs of conventional energy reflect the country’s enormous PV potential”, Markus Elsässer CEO of Solar Promotion International says.
$25 billion investment required by 2021
The positive market outlook was underlined by Mr. Hamid Chitchian, Minister of Energy of the Islamic Republic of Iran, who recently said that Iran plans to generate 7.5 gigawatts (GW) of electricity from renewable sources by 2030. Iran’s Deputy Energy Minister for Energy and Electricity Affairs, Mr. Houshang Falahatian also highlighted the financial perspective – according to him, approximately $25 billion investment is required in Iran’s electrify sector by 2021 in order to materialize 5.5 percent annual growth planned for the country’s electrify generation.
Foreign partners crucial
Against the backdrop of these favorable conditions, the country gets highly interesting for domestic and international solar stakeholders. It will be essential to involve foreign partners in solar projects, since lacking access to advanced solar technologies represented logistical challenges. The recent removal of sanctions speeds up market development and enables an international knowledge transfer to ensure a flourishing solar future for Iran. “We are delighted to see such strong interest from both the international as well as local end”, says Markus Elsässer, CEO of Solar Promotion International GmbH.
The Intersolar Summit Iran takes place November 15 in Tehran. (HCN)
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